AGED CARE ACCOMMODATION BONDS DISCLOSURE TO RESIDENTS (EXISTING AND NEW) AND FAMILY REPRESENTATIVES

Edgarley Home Incorporated (trading at Edgarley Assisted Living) is the approved provider for Edgarley Assisted Living Under the Aged Care Act 1997 (The Act), residents and prospective residents or their representatives are entitled to receive particular information from their approved provider on request.

This includes, in relation to the previous financial year;

  • A summary of the permitted uses for which we have used accommodation bonds
  • Information about whether we complied with requirements for permitted uses of accommodation bonds and with the prudential requirements for accommodation bonds
  • Information about the number of accommodation bond balances (if any) that were not refunded in accordance with the timeframes set by the Act. For entry contributions (payable before 1997), information about the number (if any) that were not refunded in accordance with the entry contribution agreement
  • A copy of the independent audit opinion on our compliance with the prudential requirements for accommodations bonds.
  • Our most recent statement of audited accounts
  • Liquidity statement

 We must also provide;

  • If you have already paid an accommodation bond, a copy of your entry bond register
  • From the 1st February 2012, if we invest accommodations bonds in particular kinds of permitted financial products, our investment objectives and the asset classes we may invest in.

Residents, prospective residents or their representatives may request any or all of the available information. We must provide the information within seven days of the request, and the information must be correct at the time of the request.

If you wish to request any information or seek further clarification please contact the CEO on 03 5581 1211.

 More details are contained in Sections 23.42 & 23.43 of the Users Rights Principles, available from www.commonlaw.gov.au

 

PERMITTED USE OF ACCOMMODATION BONDS SUMMARY:

To the Resident and/or Family Representative:

Edgarley Home Incorporated investments are governed by our Investment Policy and Strategy and we can confirm all investments are made in accordance with this policy. All investments will be limited to the following products offered by Authorised Deposit Taking Institutions (ADIs):

  • Cash – including fixed interest term deposits and bonds
  • Cash management trusts 

Edgarley uses resident’s bond monies for investment purposes only and does not use resident’s bond monies for any other purposes. Edgarley does use the interest received from the bond investments as the Board determines in its overall financial management.

Edgarley confirms it has refunded all required bond balances in accordance with timeframes stipulated by the Aged Care Act197 (as updated and amended from time to time) and refunded all entry contributions in accordance with their respective agreements.

A copy of our independent audit opinion on our compliance with the prudential requirements for accommodation a bond will be sent to you after entry into Edgarley Assisted Living.    

Our most recent audited financial statement and our latest liquidity statement will be forwarded to you after entry into Edgarley Assisted Living.

If you have already paid an accommodation bond, we provide a copy of your entry bond register, Prudential Statement and our audited end of year financial statements on a yearly basis. If you require any of these documents at any other time during the year, please do not hesitate to request a copy.